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Updated: 1 hour 47 min ago

Perils lifts Queensland, Townsville 2019 flood loss estimate to A$1.2bn

12 August, 2019 - 14:00
Insured loss estimates for the northern Queensland and Townsville flooding from 26 January to 10 February 2019 have reached A$1.217 billion ($822 million), according to Perils' third estimate published today.

Talanx raises 2019 profit forecast as H1 benefits from €50m 'extraordinary income' despite large losses

12 August, 2019 - 11:00
German re/insurer Talanx Group, the parent company of Hannover Re and HDI, has raised its full-year 2019 profit forecast on the back of "strong business performance" and an "extraordinary income" in the first half of the year that also saw an improvement in the industrial lines division. However, its underwriting results further declined in the second quarter of 2019 due to Typhoon Jebi loss creep.

Lockton hires Aon's William Barber to lead global healthcare liability offering

12 August, 2019 - 10:49
Re/insurance broker Lockton has hired William Barber to lead its international healthcare strategy, which forms part of its professional and financial services offering.

Dutch insurer Aegon appoints NN Group's Friese to succeed Wynaendts as CEO

12 August, 2019 - 09:44
Dutch insurance group Aegon has appointed NN Group's Lard Friese as chief executive officer (CEO), succeeding Alex Wynaendts at the company's Annual General Meeting to be held on May 15, 2020.

Specialty Program Group acquires New York-based MGA The Mechanic Group

12 August, 2019 - 08:57
New Jersey-based Specialty Program Group (SPG), an operator of specialty insurance brokerages and underwriting facilities, has acquired specialty insurance programme manager The Mechanic Group.

CIC Services launches new property/casualty reinsurance pool Knox Re

12 August, 2019 - 08:50
CIC Services, a risk management and consulting firm specialising in the formation and operation of captive insurance companies, has launched a new reinsurance pool for property and casualty (P&C) coverages.

IAG appoints Peter Horton as group general counsel

12 August, 2019 - 08:23
Insurance Australia Group (IAG) has appointed Peter Horton as new group general counsel.

Argo to change exec pay and cut board numbers in corporate governance refresh

9 August, 2019 - 16:03
Argo Group, the specialty re/insurer, has confirmed it will introduce proposals to cut the number of board directors from 13 to 11 and change the way they are elected, as well as confirming changes to executive pay.

AXA XL innovates to cover sharing economy and autonomous technologies

9 August, 2019 - 15:02
As the evolution of disruptive online networks and advances in technology, such as Uber, Airbnb and self driving vehicles, speeds up, the insurance cover required has had to develop quickly too.

Brown & Brown acquires US broker WBR Insurance

9 August, 2019 - 14:32
Broker Brown & Brown has has acquired substantially all of the assets of Virginia-based independent insurance broker WBR Insurance, which operated until recently as part of Nationwide Mutual Insurance Company’s exclusive distribution model.

Sompo International creates new team to tackle small business risks in US, Mexico and Asia

9 August, 2019 - 14:26
Bermuda-based specialty re/insurer Sompo International Holdings has formed a new team offering insurance solutions to smaller businesses in the US and Mexico, including its industry vertical and Asian interest accounts.

Landmark Underwriting hires senior professional indemnity underwriter from CNA Hardy

9 August, 2019 - 13:58
Specialist managing general agent (MGA) Landmark Underwriting has hired Michael Comfort as senior professional indemnity (PI) underwriter.

Sirius net income plummets by 93% in second quarter 2019 results after Typhoon Jebi loss creep

9 August, 2019 - 11:37
Bermuda-based Sirius International Insurance Group's results were negatively impacted in the second quarter and first half of 2019 due to unfavourable prior year loss reserves relating to Typhoon Jebi.

Commercial insurance rates see 'largest increase' in Q2 2019: Marsh

9 August, 2019 - 11:26
Global commercial insurance rates were up 6 percent in the second quarter 2019, marking the seventh consecutive quarter of price increases, new data from Marsh has revealed.

Many reinsurers ‘increase cat risk exposure’ to exploit 2019 price uptick, finds S&P Global

9 August, 2019 - 11:14
Most of the top 20 reinsurers have switched strategy to take advantage of the price uptick, seen during the April, June and July 2019 renewals, by increasing their exposure to catastrophe risk, a report from S&P Global has found.

Fairfax appoints Jennifer Allen new group chief financial officer

9 August, 2019 - 09:44
Canada-based Fairfax Financial Holdings, the property and casualty re/insurance conglomerate which includes OdysseyRe, Allied World and Brit, has appointed Jennifer Allen as new chief financial officer (CFO).

Greenlight Re makes strategic investment in Australian insurtech Handdii

9 August, 2019 - 09:36
Cayman Islands-based reinsurer Greenlight Capital Re's insurtech unit has made a strategic investment in Australian property insurance claims fulfilment platform Handdii.

Everest adds to risk management casualty unit in US

9 August, 2019 - 09:28
Everest Insurance, the specialty insurance division of Bermuda-based Everest Re Group, has appointed Vahan Paretchan as vice president and East region leader for the risk management casualty division, which provides primary casualty solutions to customers in the large account marketplace.

Liberty’s CEO Long sees Q2 2019 net income drop as cats cause ‘unusual volatility’

8 August, 2019 - 15:40
Liberty Mutual Insurance saw a considerable drop in its net income in Q2 2019 from the same quarter a year earlier, as chairman and chief executive David Long highlighted “unusual volatility” caused by Typhoon Jebi and higher than expected non-catastrophe loss activity.

Beazley appoints Will Roscoe to lead ‘smart tracker’ special purpose syndicate 5623

8 August, 2019 - 15:33
Specialist insurer Beazley has appointed Will Roscoe as head of its ‘smart tracker’ special purpose syndicate 5623.

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